Closed Loans

Kathy Anderson Negotiates Six Loans for One Client’s North Jersey Retail Portfolio

Managing Partner of Progress Capital, Kathy Anderson, advised on and negotiated the terms of six separate commercial real estate loans for a valued client to finance varying aspects of his northern NJ retail portfolio.

Working with Anderson allowed the client to maximize their loan proceeds allowing them to continue aggressive acquisitions of potential ‘class A’ retail properties throughout the state.

The varying retail properties and loan amounts include:

441-449 Route 10 – Livingston, NJ – $1,400,000
*Acquisition/Renovation Converting to Permanent Loan
*7,600 SF – Single Story Retail Building

  • 18 Months Interest-Only
  • 80% Loan to Value
  • 7 Year Term
  • 25 Year Amortization

2536 Route 22 – Union, NJ – $1,060,000
*Construction to Permanent Loan
*5,076 SF – Single Story Retail Building

  • 12 Months Interest-Only
  • Declining Prepay
  • 80% Loan to Value
  • 5 Year Term
  • 25 Year Amortization

401 Route 206 – Hillsborough, NJ – $805,000
*Acquisition
*4,527 SF Single Story Retail Building

  • 4.06% Fixed for 7 Years
  • Declining Prepay
  • 65% Loan to Value
  • 7 Year Term
  • 25 Year Amortization

32 Route 10 – East Hanover, NJ – $750,000
*Acquisition
*5,100 SF Single Story Retail Building

  • 4.25% Fixed for 7 Years
  • Declining Pre-Pay
  • 75% Loan to Value
  • 7 Year Term
  • 25 Year Amortization

513 Route 22 – North Plainfield, NJ – $650,000
*Acquisition
*3,344 SF Single Story Retail Building

  • 4.50% Fixed for 7 Years
  • Declining Prepay
  • 60% Loan to Value
  • 7 Year Term
  • 25 Year Amortization

3445 Route 34 – Hazlet, NJ – $371,250
*Acquisition
*2,205 SF Single Story Retail Building

  • 4.375% Fixed for 5 Years
  • No Prepayment Penalty
  • 76% Loan to Value
  • 5 Year Term
  • 25 Year Amortization

Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress

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